pancakeswap記錄自成立以來有史以來最高的季度，但蛋糕價格下跌

Pancakeswap剛剛結束了他們歷史上最好的季度。但是，他們本月的本地令牌蛋糕下跌了24％，現在交易約1.94美元。

PancakeSwap just closed its best quarter ever, but its native token CAKE has dipped 24% this month to trade around $1.94.

Pancakeswap剛剛結束了有史以來最好的季度，但本月其原住民令牌蛋糕在1.94美元左右下跌了24％。

PancakeSwap achieved its highest-ever trading volume yet with $205.3 billion in Q1 2025. This is a huge milestone for the exchange since its launch.

pancakeswap在2025年第1季度獲得了有史以來最高的交易量，售價為2053億美元。這是自推出以來的巨大里程碑。

The platform has grown massively since early 2023, with trading volume up 921%, user numbers up 81%, and transaction count up 159%.

自2023年初以來，該平台已經大幅增長，交易量增長了921％，用戶數量增加了81％，交易量增長了159％。

The decentralized exchange started on BNB Chain in 2020. Since then, it has expanded to multiple blockchains and transformed into a complete DeFi platform.

分散的交換始於2020年的BNB鏈上。從那時起，它已擴展為多個區塊鏈，並轉變為一個完整的DEFI平台。

According to data from Dune Analytics, Q1 2025 brought 5.83 million unique traders to PancakeSwap, the highest number since late 2021.

根據Dune Analytics的數據，第1季度2025年將583萬獨特的商人帶到了pancakeswap，這是2021年底以來的最高數量。

The growth since 2023 highlights PancakeSwap’s rising popularity. Quarterly trading volume soared from $20.1 billion in Q1 2023 to $205.3 billion in Q1 2025.

自2023年以來的增長突出了Pancakeswap的日益普及。季度交易量從2023年第1季度的201億美元飆升至2025年第一季度的2053億美元。

Over this period, the number of unique traders more than doubled, increasing from 3.2 million to 5.8 million. Transaction count also saw substantial growth, rising from 44.1 million to 114.4 million.

在此期間，獨特的交易者人數增加了一倍以上，從320萬增加到580萬。交易數量也大幅增長，從4410萬增加到1.144億。

Multi-Chain Success and Innovation

多鏈成功與創新

PancakeSwap has solidified its position as a leading exchange across several blockchains. It has processed an impressive $1.14 trillion in trades on BNB Chain alone.

Pancakeswap鞏固了其在幾個區塊鏈中的領導交流地位。僅在BNB鏈上，它就處理了令人印象深刻的11.4萬億美元交易。

Other chains also show strong adoption, with $21.10 billion on Base, $20.28 billion on Arbitrum, and $20 billion on Ethereum.

其他連鎖店也表現出強大的收養，基地的211億美元，仲裁額為2002.8億美元，以太坊的$ 200億美元。

The platform continues to innovate with recent upgrades to version 3, and PancakeSwap Infinity is coming soon. Users are increasingly adopting the PancakeSwap Telegram Bot for convenient trading.

該平台繼續通過最近升級到版本3進行創新，pancakeswap Infinity即將推出。用戶越來越多地採用pancakeswap電報機器人來方便交易。

Another popular feature is PancakeSwapX, which allows users to make trades without paying gas fees.

另一個流行的功能是PancakesWapx，它允許用戶在不支付汽油費的情況下進行交易。

These numbers and developments highlight PancakeSwap’s growing dominance in the DeFi space. The platform has consistently expanded its reach and improved its services, attracting more users across different blockchain networks.

這些數字和發展突出了煎餅瓦普在Defi空間中的統治地位。該平台一直擴大其影響力並改善了服務，吸引了不同區塊鍊網絡中的更多用戶。

Why CAKE Price Is Falling Despite Strong Performance

為什麼蛋糕價格表現強勁

Despite these impressive numbers, the CAKE token price has dropped 24% this month to reach $1.94. This disconnect occurs for several reasons.

儘管有這些令人印象深刻的數字，但蛋糕代幣的價格本月下跌了24％，達到1.94美元。這種斷開連接的原因是多種原因。

The overall crypto market has been volatile lately, pulling down many tokens regardless of their project’s success.

最近，加密貨幣市場一直在波動，不管他們的項目的成功如何，都會降低許多令牌。

Even though PancakeSwap’s trading volume is at an all-time high, this doesn’t necessarily increase demand for CAKE tokens.

儘管Pancakeswap的交易量一直處於歷史最高水平，但這並不一定會增加對蛋糕代幣的需求。

Token economics may also play a role. Even with efforts to make CAKE more useful and less inflationary, investors still have concerns about its long-term value.

令牌經濟學也可能發揮作用。即使努力使蛋糕更有用，而且通貨膨脹率更少，投資者仍然對其長期價值感到擔憂。

Competition from other decentralized exchanges is also increasing, which spreads investment across more platforms.

來自其他分散交流的競爭也正在增加，這將投資在更多平台上傳播。

There’s often a delay between a platform’s success and its token price. PancakeSwap’s record performance might eventually lift CAKE’s price, but for now, they’re moving in opposite directions.

平台的成功與代幣價格之間通常會延遲。 Pancakeswap的創紀錄性能最終可能會提高蛋糕的價格，但就目前而言，它們的方向相反。

With Q1 2025 showing such strong results, PancakeSwap is positioned to continue its growth throughout the year. However, whether the CAKE token will eventually reflect this success remains to be seen.

隨著第1季度2025年的效果如此強勁，PancakesWap的定位將在全年中繼續增長。但是，蛋糕令牌是否最終會反映出這一成功還有待觀察。

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